Silverstein has been unable to secure at least one major tenant for the building, according to the report. Silverstein is looking for someone to pre-lease 400,000 square feet in the building. Amid the current financial climate, attracting that kind of tenant has proved challenging.

So Silverstein was reportedly thinking of turning it into a retail center.

If the building is capped at seven stories, the cap itself could be removed and construction could resume if a major tenant is found.